Home » NEWS » Banking & Finance » Morgan Keegan holds on to top spot

Morgan Keegan holds on to top spot

MEMPHIS — Morgan Keegan & Company Inc. was the eighth leading underwriter of municipal bonds in the country for 2009, serving as book running manager on 578 issues with a par amount of $12.8 billion, according to Thomson Reuters.

The firm was the 10th leading underwriter in 2008.

Morgan Keegan was also the leading underwriter in the nation in terms of number of issues of Build America Bonds (BABs), a new category of bonds created by the Stimulus Act in 2009. The firm served as senior manager on 85 issues with a par amount of $2.5 billion. BABs are taxable bonds that help broaden the market for municipal debt and provide a more efficient subsidy, rather than tax-exempt debt, to governmental capital investment. Additionally, as underwriter of BABs competitive issues, the firm was number one nationally on 72 issues with a par amount of $1.6 billion.

Regionally, for the 17th consecutive year, Morgan Keegan dominated municipal bond underwriting in the South Central U.S. in 2009. The six-state region includes Alabama, Arkansas, Kentucky, Louisiana, Mississippi and Tennessee. Serving as senior manager on 232 issues with a par value of $4.9 billion, the firm captured a 22.7 percent market share.

Morgan Keegan was also the leading municipal bond underwriter, in terms of number of transactions, in the 10-state Southeast region of the country that includes Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, Tennessee and Virginia. The firm senior managed 307 issues with a par value of $7.6 billion, capturing a 10.5 percent market share in 2009 compared to 9.2 percent in 2008.


… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Wally Northway

Leave a Reply